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Atlas Pipeline Partners LP (APL) Shares Enter Overbought Territory

By Energy Stock Channel Staff, Thursday, October 27, 4:03 PM ET
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In trading on Thursday, shares of Atlas Pipeline Partners LP (NYSE:APL) entered into overbought territory, changing hands as high as $34.85 per share. We define overbought territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be overbought if the RSI reading rises above 70.

In the case of Atlas Pipeline Partners LP, the RSI reading has hit 70.1 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 61.6, the RSI of WTI Crude Oil is at 62.2, and the RSI of Henry Hub Natural Gas is presently 39.5.

A bearish investor could look at APL's 70.1 reading as a sign that the recent heavy buying is in the process of exhausting itself, and shares are due for a pullback.

Looking at a chart of one year performance (below), APL's low point in its 52 week range is $19.40 per share, with $37.90 as the 52 week high point that compares with a last trade of $34.80. Atlas Pipeline Partners LP shares are currently trading up about 4.4% on the day.

Atlas Pipeline Partners LP 1 Year Performance Chart

According to the ETF Finder at ETF Channel, APL makes up 1.58% of the Dynamic Energy Sector Portfolio ETF (AMEX:PXI) which is trading higher by about 5.9% on the day Thursday.

See what other ETFs contain APL
See what other stocks are held by PXI

APL operates in the Oil & Gas Equipment & Services sector, among companies like Spectra Energy Partners LP (NYSE:SEP) which is trading flat today, and Sunoco Logistics Partners L.P. (NYSE:SXL) trading relatively unchanged. Below is a three month price history chart comparing the stock performance of APL, versus SEP and SXL.

APL,SEP,SXL Relative Performance Chart


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